How To Complete a 1040 EZ form

By Alicia Mena

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Section 1 - The basics

Simply fill in your personal data (name and address, including the state and the zip code, as well as your social security number, to the far right). If you file jointly with your spouse, include his or her data in this section too. Things haven’t gotten ugly yet with this form, so Uncle Sam thought this would be a good time to ask for your generosity. If you want to donate $3 for the presidential election campaign, this is the place you can do it, by ticking the appropriate boxes (one for you and one for your spouse). In this case, Arnold does not want to donate 3$ .

Section 2 - Line 1 - 9

This is the income declaration section. You have to tell the government how much money you made from salaries, wages and tips (on Line 1), interest (bank accounts, for example, on Line 2), unemployment payments and, just for Alaska residents, permanent fund dividends (on Line3).

Line 4 is just the sum(adding them up) of the first 3 lines and defines your AGI, or adjusted gross income. Line 5 is the place where you have to say if someone is financially responsible for you. If not, and you are single, you should enter $10,300. If you file together with your spouse, you should enter $20,600. The last thing to do in this section is to subtract Line 4 from Line 5. If the amount on Line 5 is greater than Line 4, just write zero. Otherwise, you just figured out your taxable income. On Line 7, enter the income tax withheld at the federal level – you can find it on FORM W-2 and 1099 Line 8 is where you insert any work pay credit, and Line 9 (if applicable), is to file your earned income credit. In short, this applies to people who make small amounts (you can even get this if you haven’t paid any income tax). Find out more about your earned income credit in the 1040EZ Instructions

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Section 2 - Lines 10 - 14

If line 9 is larger than line 12, leave this section blank. You do not owe any additional taxes. If line 12 is larger than line 9, subtract line 9 from line 12 and enter it on line 14. This is the amount of additional taxes you owe.If you owe less than $1, you do not have to pay. You can pay this amount by attaching a personal check made payable to the U.S. Treasury (ensure your name, address, and Social Security number are on the check) or by any method including credit or debit card, automatic deduction from your bank account or other methods. Last but not least complete the 3rd party section by writing your name